Private investors continue to place assets in Self-storage Construction for income and capital appreciation, new units are absorbed quickly to meet growing consumer demand. Today 9.4% of all households use a self storage space, for a variety of reasons.
Below is Self-storage Sector Snapshot
|U.S. self-storage sector snapshot||Data|
|Annual industry revenue||$38 billion|
|Number of storage facilities (range)||44,000-52,000|
|Total rentable self-storage space||2.3 billion square feet|
|Self-storage space per person||7.06 square feet|
|Percentage of households that rent a self-storage unit||9.4 percent|
|Average monthly cost for a self-storage unit||$91.14|
Number of self-storage facilities in the U.S.
Between 44,149 (Self-Storage Almanac, 2018) and 52,000 (Self Storage Association, 2018). Sources vary depending on definition and methodology.
Industry ownership is fragmented, with 18% of facilities owned by the six largest public companies, 8% owned by the next top 100 operators (minus the REITs), and 74% owned by small operators. (Self-Storage Almanac, 2018)
Largest self-storage construction operators (publicly traded) in the U.S. (by annual revenue)
- Public Storage: $2.51 billion (2017)
- Extra Space Storage: $1.1 billion (2017)
- CubeSmart: $558.94 million (2017)
- Life Storage: $529.75 million (2017)
- U-Haul: $286.89 million (fiscal 2017 – self-storage revenue only)
- National Storage Affiliates Trust: $268.13 million (2017)
Data from most recently reviewed company earnings reports.
Largest self-storage operators in the U.S. (by number of facilities, owned or managed)
- Public Storage: 2,386
- Extra Space Storage: 1,483
- U-Haul: 1,482
- CubeSmart: 936
- Life Storage: 675
- National Storage Affiliates Trust: 533
Data from most recently reviewed company earnings reports. U-Haul number reported by MiniCo Storage Almanac 2018.